closing tag is in template navbar
timefactors watches



TZ-UK Fundraiser
Results 1 to 6 of 6

Thread: Chrono24 cutting jobs as secondary watch market squeeze continues

  1. #1

    Chrono24 cutting jobs as secondary watch market squeeze continues

    https://www.watchpro.com/chrono24-cu...eze-continues/

    The Subdial50, which tracks prices for the 50 most traded watches, is down by 33% over the past 12 months.

  2. #2
    Not sure what their business model is but the prices on Chrono24 are in need of a serious correction...no wonder business has been slow!

  3. #3
    Yes, a period of price correction indeed.

    Fmf

  4. #4
    Craftsman
    Join Date
    Jan 2017
    Location
    Glasgow
    Posts
    689
    Thing is, that reference point for price falls is pretty sensitive to timing - my watches are pretty much at the same place they were in November 2021 when I obtained insurance valuations.

    In April 2022, some of them had increased by 50% in that period, so it was just a short term ramp up thatís settled back down, pretty much same thing has happened with high end cars


    Sent from my iPhone using Tapatalk

  5. #5
    Master
    Join Date
    Feb 2003
    Location
    Northener
    Posts
    2,676
    Dealers hike the prices because Chrono24 charge between 6 to 7% commission alongside their monthly hosting fees. This commission is new and was introduced about 18 months ago. Since then dealers raised their prices, and a lot of dealers left the platform. So it's no real surprise that they are experience fewer transactions.

  6. #6
    Master
    Join Date
    Dec 2012
    Location
    Scotland!
    Posts
    1,008
    Prices may need to be lowered, but as noted the dealers set the price based on C24 margin - so dealers hike prices.

    In turn C24 (and dealers) generate profit cash flow only with sales. A sales entity would normally lower prices to generate cash flow and pay staff, but C24 canít as prices are set by the delayers.

    A bit of a Catch-22. I wonder if fees might be lowered to try to generate more revenue? Or if they ride it out.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Do Not Sell My Personal Information